SEYB Right issue

THIRU wrote:

Monster wrote:I bought SEYB.X at 49, 48, 41 and 40 levels. Still my average is 44/-. I wouldn't be wonder even if it goes further down. But I will never sell it for loss. I feel it's a right time to grab such a wonderful share at a discounted rate. I will subscribe right issues and keep it and keep it for long term.

Fully agree.. it is a gem of a shares.. Now at bargain price. Our people are so crazy to sell these kind of shares.. I will also keep.

"gem" is a prohibited word in this forum.

Did anyone notice that SEYB.N closed at 75.90 which is only 0.90 above its rights price?

npp wrote:Did anyone notice that SEYB.N closed at 75.90 which is only 0.90 above its rights price?

Thanks for highlighting something that seemed to have escaped most people's attention (or was it just mine?)

I guess all the government controlled funds in that top share holders list will be taking up the rights alloted to them. Since SEYB is a bank, the central bank is sure to use it's influence on those funds. Heck the number 2 shareholder is BoC.

But the interesting question is what some of the other shareholders, most notably the companies in the ceylinco group who are sure to be short of cash will do.

chamith wrote:

Monster wrote:I bought SEYB.X at 49, 48, 41 and 40 levels. Still my average is 44/-. I wouldn't be wonder even if it goes further down. But I will never sell it for loss. I feel it's a right time to grab such a wonderful share at a discounted rate. I will subscribe right issues and keep it and keep it for long term.

I m in the same status as you. Seyb.x is about 50% of my portfolio now....
Will prob have to pump some money to broker....

Same here ...!

I think seyb.x has found its support level. Tomorrow we may see some green...
My mom told me i have received some CD frm seylan bank.
Hope u all also got it...

Did any one notice, now SEYB.N is trading at 74.10

Hi guys,

Anyone knows the right issue date. I mean announced date and the date it will can purchase or to sell. is this approved from CSE?

The AGM was a couple of days ago. anyone knows what happened?

npp wrote:The AGM was a couple of days ago. anyone knows what happened?

They will have to revisit the terms of the right issue again.
Under these proportions and price i dont believe the right issue will be attractive,,,

Any idea about the date that rights are coming to the market?

chamith wrote:Any idea about the date that rights are coming to the market?

SEYLAN BANK PLC
Company ID: - SEYB (Voting)
Date of Initial Announcement: - 01-Mar-2011
Proportion: - One (01) new ordinary share for every three (03) shares held
Issue Price: - Rs.75.00/-
The number of shares to be issued: - 43,333,333 ordinary shares
EGM / Provisional Allotment: - 09.May.2011
XR:- 10-May-2011
Dispatch of Provisional Letter of Allotment: - 19.May.2011
Rights Trading Commences on:- 25.May.2011
Renunciation:- 01.Jun.2011
Last Date of Acceptance & Payment:- 02.Jun.2011

The million dollar question is what is the value of this right and at what price it will trade??

(Theoretically Voting rights should trade at -1.00 and Non Voting at 1.20 based on the last traded prices according to DFN )

san1985 wrote:

chamith wrote:Any idea about the date that rights are coming to the market?

SEYLAN BANK PLC
Company ID: - SEYB (Voting)
Date of Initial Announcement: - 01-Mar-2011
Proportion: - One (01) new ordinary share for every three (03) shares held
Issue Price: - Rs.75.00/-
The number of shares to be issued: - 43,333,333 ordinary shares
EGM / Provisional Allotment: - 09.May.2011
XR:- 10-May-2011
Dispatch of Provisional Letter of Allotment: - 19.May.2011
Rights Trading Commences on:- 25.May.2011
Renunciation:- 01.Jun.2011
Last Date of Acceptance & Payment:- 02.Jun.2011

The million dollar question is what is the value of this right and at what price it will trade??

(Theoretically Voting rights should trade at -1.00 and Non Voting at 1.20 based on the last traded prices according to DFN )

Oh it depend on manipulation.
Also good to watch what happens to SEYB N and X share prices. Will they stay the same or go up ?
Depending on the situaiton can get an idea of what SEYB and big shot also want with this right issue
which killed some of us investors in the medium term.

I think some big guys will collect SEYB at lower price.

econ wrote:I think some big guys will collect SEYB at lower price.

Thats the motive, when u and me n the rest dont subscribe for rights, big guns request fro additional rights and push up the price before rights coming in or after rights listed Its all in the game dude

do you guys believe that i was the one holding like 170,000 of seyb.r0001 and sold the same day with a good profit and on the second day did the same to seyb.n0000 and had a similar profit.... i knew like if the rights go up soon the voting and non voting goes up as well. for rights its almost double the price buy for shares its like 1-2 %.

i took my risk and it paid off.. i don't say its a good way. but in cse the big fish do it big way this small fish did it in small way.